By Aaron Nicodemus2023-02-28T17:48:00
A St. Louis-based investment adviser and its affiliate agreed to pay $893,502 to settle charges laid by the Securities and Exchange Commission (SEC) regarding failure to disclose conflicts of interest to their advisory clients over eight years.
The SEC charged Huntleigh Advisors and affiliate Datatex Investment Services with violating federal securities law from 2015-22 by not properly disclosing conflicts related to transaction fees, revenue sharing payments, mutual fund share class selection practices that generated fees, and failing to report some of these fees to the SEC, the agency said Monday in an administrative proceeding.
The SEC also said Huntleigh and Datatex breached their duty of care, including best execution for practices regarding the recommendation of mutual fund shares.
2023-04-12T16:25:00Z By Aaron Nicodemus
SEC Commissioner Hester Peirce warned about “potential pitfalls” with structured data, which regulators and lawmakers have embraced as a way to make data accessible and easy to use.
2023-01-20T21:21:00Z By Adrianne Appel
Investment adviser Moors & Cabot reached a $1.9 million settlement with the Securities and Exchange Commission over allegations the firm didn’t fairly disclose conflicts of interest associated with incentive payments it received from two unaffiliated clearing brokers.
2022-11-15T18:51:00Z By Adrianne Appel
Credit rating agency S&P Global Ratings agreed to pay $2.5 million and improve its compliance practices to settle allegations by the SEC that its marketing team pressured the ratings team concerning the rating of a particular mortgage-backed security transaction.
2025-08-25T20:49:00Z By Adrianne Appel
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
2025-08-25T18:24:00Z By Adrianne Appel
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
2025-08-25T15:51:00Z By Adrianne Appel
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
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